CX Enterprises has the following expected dividends:

$1.12

in one year,

$1.21

in two years, and

$1.29

in three years. After that, its dividends are expected to grow at

3.9%

per year forever (so that year 4's dividend will be

3.9%

more than

$1.29

and so on). If CX's equity cost of capital is

11.7%,

what is the current price of its stock?